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Unions' Obamacare Demand Won't Be Met, Obama Administration Says

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The Obama administration won't give in to organized labor's demand that it bend the health care reform law to protect some union member's health insurance plans, the White House said Friday.

AFL-CIO President Richard Trumka and other unions were informed of President Barack Obama's decision that the unions aren't getting what they want during a meeting at the White House about the Affordable Care Act on Friday afternoon. The Treasury laid out its rationale in a letter to Sen. Orrin Hatch (R-Utah) and Rep. Dave Camp (R-Mich.), who previously wrote to Treasury Secretary Jacob Lew to express opposition to granting the unions' demand. The Washington Post first reported on the Obama administration's decision Friday.

The dispute over the impact of the 2010 health care reform law on some union health plans has caused a rift between the AFL-CIO and the White House. The labor union approved a resolution at its national meeting Wednesday calling for significant changes to the law -- and threatening to support its repeal if their terms weren't met.

Among its demands, the AFL-CIO wants union members belonging to so-called multiemployer plans, also known as Taft-Hartley plans, to receive the same tax credits that will subsidize health insurance premiums for low-income people who don't get health coverage at work. Those lacking employer-sponsored coverage will use the state-based health insurance exchanges scheduled to open Oct. 1 for plans that take effect in 2014.

Multiemployer plans are utilized by union members who may work for more than one company in a year. The plans allow workers to maintain the same health benefits as they change jobs. Union leaders have claimed the health care reform law will be responsible for "destroying" these health benefits, in part because employers will prefer to end health insurance and direct workers to shop for their own coverage on the health insurance exchanges.

But the Treasury Department has ruled that these union plans will be treated the same as other job-based health plans, which are not eligible for tax credits. In single employer and multiemployer health plans, workers' premiums are subsidized by the company and the benefits are not taxed.

"An individual who is covered by an eligible employer-sponsored plan would not be eligible to receive a premium tax credit. The conclusion that an individual cannot benefit from both the exclusion from taxable income for employer-provided health coverage under such a plan and the premium tax credit by the A.C.A. [Affordable Care Act] applies whether the individual is covered by a single-employer plan or a multiemployer plan," Alastair Fitzpayne, assistant secretary for legislative affairs, wrote Hatch and Camp Friday.

AFL-CIO spokesman Jeff Hauser didn't immediately responded to requests for comment

Sen. John Thune (R-S.D.) introduced legislation this week to forbid providing tax credits to union members with multiemployer plans.

D. Taylor, president of UniteHERE, Joe Hansen, president of the United Food and Commercial Workers International Union, and Trumka were among the seven union leaders at the meeting, according to a background statement from a White House official. "The administration will work with multiemployer plans and other non-profit plans and encourage them to offer coverage through the Marketplace, on an equal footing, to create new, high-quality, affordable options for all Americans," the official said in a written statement.

Obama, Vice President Joe Biden, Secretary of Labor Tom Perez, White House Chief of Staff Denis McDonough, and White House Senior Adviser Valerie Jarrett attended the meeting, according to the official.

Trumka declined to comment to reporters after the White House meeting, Politico reported. Reported by Huffington Post 3 days ago.

Are you looking for health insurance under Obamacare? We'd like to hear from you

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Are you covered?On the eve of the Oct. 1 kickoff of California's new health-insurance exchange created by the new health care law, many Bay Area residents still don't understand how the exchange and the new insurance subsidies work. Reported by San Jose Mercury News 2 days ago.

Zane Benefits Publishes New Information on Who Can Administer an HRA

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Rules and regulations on who is allowed to administer an HRA

Park City (PRWEB) September 14, 2013

Today, Zane Benefits, the number one online small business health benefits solution, published new information on who can administer an HRA.

According to Zane Benefits’ website, Health Reimbursement Arrangements, also referred to as Health Reimbursement Accounts or HRAs, provide small businesses an affordable health benefits solution. A common question from small businesses is "who can administer the Health Reimbursement Account?"

HRAs are authorized under Section 105 of the Internal Revenue Code, and are a type of self-funded, tax-favored plan that may be offered either in conjunction with a group health plan, or as a standalone plan to reimburse qualified out-of-pocket medical expenses and insurance expenses.

With a standalone HRA, a business would use the HRA to reimburse employees for qualified medical expenses and individual health insurance premium, instead of offering a group health insurance plan.

Reimbursements are generally excludable from the employee's gross income under Internal Revenue Code Sections 106 and 105. Reimbursements the business pays are tax-deductible.

For a business to administer an HRA, they need to have legal HRA Plan Documents in place. An HRA Plan Document describes the HRA Plan's terms and conditions related to the operation and administration of the HRA. Since an HRA is subject to ERISA, a legal HRA plan document must be provided in writing.

In addition to the HRA Plan Document, a business needs to make sure they have certain safeguards in place to stay compliant with the IRS, ERISA, HIPAA, and ACA.

Because of these compliance reasons, and for ease of use and time savings, most businesses use a third party to administer the HRA.

An HRA Software provider helps a business: set up the HRA, create and distribute HRA plans electronically, provide a "quickbooks-like" tracking of HRA funds, review claims for reimbursement, keep medical receipts on file electronically, and notify the employer (through the software) when to reimburse employees via payroll. HRA Software does not require pre-funding of HRA allowances, and is not a fiduciary.

HRA compliance requirements:

1. Tax Savings & IRS Compliance

2. Federal Compliance:
HIPAA (Medical Privacy): Employees’ medical information needs to be kept HIPAA-protected, and all medical documentation stored in compliance with HIPAA for 10 years, as required by the IRS for audit purposes. Employers should never see employees’ medical information, or even the type of medical expenses, to stay HIPAA compliant and stay nondiscriminatory.

ERISA: Under ERISA, employers are not allowed to “endorse” a specific individual health insurance plan. When offering an HRA, the employer should not know the details of individual health insurance plans purchased by employees, or even if they are seeking reimbursement for a health insurance premium (only that it is a qualified medical expense allowed by the HRA).

3. The Affordable Care Act (ACA) has introduced new requirements for HRAs including how benefit information is presented to employees, new reporting forms, and new plan design requirements.

Click here to read the full article.
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About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs) and defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com. Reported by PRWeb 2 days ago.

What does your company need to do about health insurance in 2014?

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With new government-run marketplaces for health insurance coverage set to open in October, and new mandates for coverage coming into effect in January, businesses large and small are facing a variety of decisions about whether and how to provide benefits to employees. The Affordable Care Act included a mixture of carrots and sticks designed to expand health insurance coverage, and many of those provisions will soon come into play. So what will businesses be required to do, and will they get help?… Reported by bizjournals 2 days ago.

Insurers limiting doctors, hospitals in health insurance market

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Insurers in California's new health insurance exchange are holding down premiums by limiting choices, raising concerns that patients will struggle to get care. Reported by L.A. Times 1 day ago.

Zane Benefits Publishes New Information on Health Insurance Marketplace Rates

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Key facts to consider with health insurance rate comparisons

Park City, Utah (PRWEB) September 15, 2013

Today, Zane Benefits, the number one online small business health benefits solution, published new information on health insurance marketplace rates.

According to Zane Benefits’ website, anyone following the new health insurance marketplaces and the highly anticipated rate announcements over the last months knows that there's been a lot of buzz about whether the rates are high, low, or about what was expected.

Why the inconsistencies and confusion? All of the buzz aside, here are some facts to think about when comparing the health insurance marketplace rates to current market rates.

Old plans and new ACA qualified plans are impossible to be compared in an "apples to apples" comparison. The health insurance plans that will be sold to individuals and small businesses through the online marketplaces in 2014 will include different services than plans sold on the individual and small group markets today. Starting in 2014, individual and small group plans must cover a range of essential health benefits that were not always covered in the past.

Individual health plans become guaranteed-issue, meaning people cannot be denied coverage or charged more because of health problems and women cannot be charged more than men.

Premiums don't tell whole story either; deductibles, co-insurance, and co-pays play a role in the cost of coverage for consumers.

When you factor in these changes and considerations, it's nearly impossible to get a true "apples to apples" look at health insurance plan rates.

Rates aside, most people purchasing an individual or family plan through the new health insurance marketplaces are expected to qualify for a premium subsidy to offset part their premium costs.

The subsidies will be on a sliding-scale, and will cap the cost of the premium at between 2% and 9.5%, depending on income.

Click here to read the full article.
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About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs) and defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com. Reported by PRWeb 23 hours ago.

Pacific Prime Clients with IHI Bupa Gain Increased Health Insurance Benefits

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The insurance provider IHI Bupa has upgraded its International Health and Hospital Plan with increased benefits for endoscopy, maternity, and medicines & appliances.

(PRWEB) September 16, 2013

IHI Bupa has recently improved its International Health and Hospital Plan (IHHP) by expanding the benefit levels for maternity, endoscopic examinations, and the Medicines & Appliances module. The IHHP is already one of the most popular health insurance plans in Asia, specifically in Hong Kong, and Pacific Prime analysts predict that clients will appreciate the improvements to the plan. The changes took effect on September 1st.

For outpatient maternity treatment, the benefit amount for a normal delivery, including any complications, elective caesarean section delivery, and pre/post-natal treatment, has been increased from US $11,000 per delivery to $12,000 per delivery. If a client is medically prescribed a C-section, the plan will cover an extra US $3,300. For delivery/C-section treatment following fertility treatment (not including pre/post-natal treatment), the benefit amount has increased from US $8,000 to $8,800.

For inpatient maternity treatment, the benefit level of a normal delivery has increased from US $6,500 per delivery to $7,150 per delivery. For an emergency C-section, the benefit amount has increased from US $1,150 to $13,200 per delivery. The benefit amount with fertility treatment has increased by US $500.

Cover for endoscopic examinations has also been extended. Endoscopic examinations are now covered under the inpatients plan with the benefits seeing an increase from US $1,000 per exam to “full coverage up to US $2,000,000 per year” with the Hospital Plan. Previously, this benefit was only covered up to US $850 per exam under the outpatient module.

The Medicines and Appliances module on the IHHP has been improved with an increase in cover from US $ 2,500 per year to US $3,000 per year.

Pacific Prime analysts are eager to see how clients will react to the extended cover on the IHHP. By making this upgrade in addition to their usual yearly changes, IHI Bupa is continuing to display its strong commitment to the health and well-being of its clients.

To read more about the changes on the IHHP plan, visit http://www.pacificprime.com/resources/news/2013/09/13/ihi-extends-coverage/. Reported by PRWeb 10 hours ago.

More companies steering retirees to private health-insurance exchanges

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IBM and Time Warner are shifting their retirees from company health plans to private exchanges in a move that may signal changes for other retirees. Reported by Miami Herald 10 hours ago.

Cedar Ed Lending Shares Pre-College Student Saving Tips for Your Education Fund

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With these easy pre-college student saving tips, you’ll be able to take some of the stress of your financial needs and be prepared to take full advantage of the college experience.

New York, NY (PRWEB) September 16, 2013

Many new parents hope to start immediately putting money away for their child’s college fund, whether it’s dollars in a jar or a slice of savings put into a 529 Plan. Even if they plan far ahead, however, that doesn’t always mean that they’ll be able to cover the full cost of a college education.

In many cases, the kids themselves will pay for most college expenses in the form of student loans taken out each year. These loans go to cover the cost of tuition, as well as room and board, books, health insurance, and other living expense costs that tally up quickly.

However, there are ways that you can save up money ahead of time in order to reduce the amount of loans you have to take out. With these easy pre-college student saving tips, you’ll be able to take some of the stress of your financial needs and be prepared to take full advantage of the college experience.

Start Early

Don’t wait until the last few months of your senior year in high school to start your college fund. You definitely won’t be able to save enough to make a dent on the daily costs of college life. Start your college fund as soon as you can, once you’ve made the decision to attend college or even know which school you want to attend.

You can establish a savings account that will gather interest. As an added bonus, your family members will see how serious you are about saving for college and may shoot you a twenty every once in a while.

Make Sacrifices

The hardest part of saving money is giving up the things you really want. While you’re young, you want to have fun by going out at night, but that can be very costly. Sometimes you need to just say no to the expensive nights out or find ways to have fun for free. You’ll be surprised how much money you can save in the long run by renting a movie instead of going out to the theaters. These little sacrifices will add up.

Yard Sale

Over the years, you are bound to accumulate tons of junk that you don’t need or use. It’s not going to do you any good piled up in the closet. Instead, you can have a yard sale to get rid of all that extra stuff while gaining cash to put towards your college fund. You can also sell items on eBay, Craigslist, or any other online bidding site.

Pack A Lunch

Another one of the great student saving tips is to pack your lunch every day for school. School lunches might not seem that expensive, but it adds up when you’re paying for lunch 5 times a week. Instead, you could put a sandwich and snack in a brown paper back in the morning. Over time, you’ll save a lot of dough.

No Impulse Purchases

Some people have the bad habit of impulse shopping. When they see a cute bag or awesome pair of jeans, they take out their credit card without really thinking about it. Once in awhile isn’t bad but eventually it can cost you hundreds of dollars because of bad shopping judgment. Instead, you can think about the purchase overnight. A good night’s sleep might change your mind.

Public Transit

Although getting a car is important for many high school students, it’s also a huge financial responsibility. You have to pay car payments, auto insurance, and gas costs. That’s thousands of dollars that you can put towards college

Saving money for college is one of the most important things you can do. The money that you save, plus your private student loans, will make your college experience so much easier. Reported by PRWeb 5 hours ago.

CDPHP Launches Fall Advertising Campaign

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As the fall open enrollment period approaches, and the NY Health Exchange prepares for its launch, CDPHP is once again showcasing its strong connection to its members, employer groups, and the community with a fall advertising campaign.

Albany, NY (PRWEB) September 16, 2013

CDPHP is launching its fall advertising campaign, showcasing the local not-for-profit’s strong connection with its members, employer groups, and the community. The campaign features testimonials from CDPHP members whose lives, families, and businesses have been positively impacted by doing business with the award-winning health plan.

Nationally recognized for its superb customer service and an unwavering commitment to quality, CDPHP is now the Capital Region’s leading health plan with more than 440,000 members. CDPHP members enjoy access to over 300 free wellness classes, the Life Points incentive program, nurse case managers, fitness and wellness mobile apps, as well as a robust network of hospitals and providers.

“At CDPHP, our commitment to our members is second to none,” said Dr. John Bennett, president and CEO, CDPHP. “Our ads showcase real people whose lives have been changed by our innovative products and services that we believe will lead to better health, better care, and lower costs.”

Founded and guided by physicians, CDPHP is turning heads for its Enhanced Primary Care (EPC) initiative, an innovative payment model that rewards doctors for spending more time with sicker patients. Now in its fifth year, EPC includes 199 practices, 856 clinicians, and 215,913 members.

CDPHP also remains deeply committed to its employer groups, providing small and large businesses access to a knowledgeable team of trusted advisors who customize benefits and health care reform solutions. For large business owners, CDPHP offers its Shared Health program, a partnership that allows businesses to save on health care costs by improving the health of their employees.

For more information, please visit http://www.CDPHP.com. For media inquiries, please contact Ali Skinner at (518) 605-4497 or askinner(at)cdphp(dot)com.

About CDPHP®
Established in 1984, CDPHP is a physician-founded, member-focused and community-based not-for-profit health plan that offers high-quality affordable health insurance plans to members in 24 counties throughout New York. CDPHP is also on Facebook, Twitter, LinkedIn and Pinterest.

### Reported by PRWeb 6 hours ago.

USHEALTH Advisors Adds Greg Umamoto and Trio of Sales Leaders to its Ranks

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Successful Insurance Pro Is Building a Virtual Sales Team Based in California

Grapevine, TX (PRWEB) September 16, 2013

USHEALTH Advisors announces the addition of Greg Umamoto and a trio of high-caliber sales leaders who will be focused on building a virtual USHA sales team based in California. The move reunites Mr. Umamoto, along with his wife and business partner Shirley, with Troy McQuagge, who serves as President and CEO of USHA.

“I’ve known Greg and Shirley for many years,” said Mr. McQuagge. “We’ve already built one world-class company together, and I am happy to be working with them again, as we work toward eclipsing our previous success by taking USHEALTH Advisors to unparalleled levels of achievement.”

Greg and Shirley Umamoto, together with Bill Bailey and Rachel Tran, will form the nucleus of the Umamoto Division. With offices near San Jose, San Francisco and Santa Barbara, the Umamoto Division will concentrate on building an internet-based sales team that can serve customers throughout the United States. Mr. Umamoto is a 24-year veteran of the health insurance industry. He has been recognized with prestigious career awards including President’s Council District Sales Leader and President’s Council Division Sales Leader. The Umamoto Division has achieved in excess of $120 Million in career sales volume.

“Greg and Shirley Umamoto have a proven track record of building dynamic sales teams,” said USHA Sr. Vice President Bill Shelton. “USHA’s business model equally supports both face-to-face and virtual sales so this is a perfect fit for all of us. I’m very excited to be working again with Greg and Shirley, as they build an exceptional California-based internet sales team that can distribute our unique product portfolio to customers in multiple states.”

USHEALTH Advisors markets to the self-employed and individual marketplace, USHEALTH Group’s full line of health and supplemental insurance products underwritten by its wholly-owned insurance companies. The company has experienced significant growth since 2010. USHEALTH Group’s strategy is centered on its portfolio of excepted benefit plans and supplemental insurance products in the individual insurance marketplace.

“The newly formed Umamoto Team is a true asset to our company,” echoed USHA President and CEO Troy McQuagge. “They understand that we are in the business of helping and serving others, and they strive to deliver on that promise for every one of their customers. I could not be more pleased to have Greg, Shirley, Bill and Rachel representing our company and our products in the marketplace.”

About USHealth Advisors, L.L.C.
USHEALTH Advisors was founded in 2009 as Security Health Advisors, L.L.C. It is a wholly-owned national health insurance distribution arm of USHEALTH Group, Inc. The company sells individual health coverage and supplementary products underwritten by The Freedom Life Insurance Company of America and National Foundation Life Insurance Company, wholly-owned subsidiaries of USHEALTH Group, Inc. The company is focused on serving America’s self-employed, small business and individual insurance market through its captive Agent sales force.

About USHEALTH Group, Inc.
USHEALTH Group, Inc. is an insurance holding company based in Ft. Worth, Texas focused on providing innovative health coverage for self-employed individuals and small business owners. The goal of USHEALTH is to combine the talents of its employees and agents to market competitive and profitable insurance products, while providing superior customer service in every aspect of the company’s operations. Reported by PRWeb 6 hours ago.

Getting Personal With Your Health Insurance Exchange Questions

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Can I wait to sign up for health insurance under Obamacare until I get sick? Do young people really have to buy it? And isn't Obamacare really a negative term? Julie Rovner answers these and more as opening day looms for the new health exchanges. Reported by NPR 5 hours ago.

K-L School Board Approves Insurance Switch for KLAAS

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K-L School Board Approves Insurance Switch for KLAAS Patch Bedford-Katonah, NY --

Katonah-Lewisboro's union for administrative officials has agreed to a health insurance change like that of its counterparts who represent teachers and maintenance workers. The deal between the district and the Katonah Lewisboro District Associa Reported by Patch 4 hours ago.

Gov. Snyder to sign Medicaid expansion legislation

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Gov. Rick Snyder is set to sign legislation that would make more low-income adults eligible for health insurance through the federal health care law. Reported by Freep 2 hours ago.

Health Marketplace Contacting Minorities for Eligibility Service

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Health Marketplace Contacting Minorities for Eligibility Service NEW YORK—To overcome language and cultural barriers, the state’s health insurance marketplace has contracted community-based groups to contact minorities ahead of the mandatory insurance rollout Jan. 1, 2014.

The NY State of Health: The Official Health Plan Marketplace (NYSOH) is …

The post Health Marketplace Contacting Minorities for Eligibility Service appeared first on The Epoch Times. Reported by Epoch Times 2 hours ago.

Poll: 12% Say Obamacare Will Have Positive Impact on their Family

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Poll: 12% Say Obamacare Will Have Positive Impact on their Family A new NBC/Wall Street Journal poll reveals Americans are unconvinced that Obamacare will improve the country's healthcare system. Only 12% say the law will have a positive effect on their family and even the uninsured are skeptical Obamacare will do them any good.

Confusion surrounds the Patient Protection and Affordable Health Care Act enacted in 2010, especially among the uninsured. Among this group, three-quarters of respondents say they do not understand or understood very little of the new law. Enthusiasm for program registers at a dismal level, as less than one-third say (31%) say the law is a good idea. Merely one-third of those who are uninsured say they are "fairly" or "very" likely to use the new healthcare exchanges.

Even worse, only 23% of all respondents say the law will benefit the healthcare system and paltry 12% believe the law will have a positive impact on their family.

The public is not predicting positive developments arising from the law, with more than half (52%) expecting healthcare costs to rise.  One consequence of the unpopular law is that businesses have already started pushing people off their current health insurance plans and are cutting hours to avoid the law's mandate to provide coverage to 30 hour+ workers.  As three-quarters (73%) arealready satisfied with their current healthcare coverage, the net result of Obamacare appears to be strictly detrimental: higher healthcare costs, fewer work hours for employees and those who are satisfied with their health insurance, losing that coverage. 

 
 
 
  Reported by Breitbart 1 hour ago.

Kanetix Provides Peace of Mind to Pet Owners with Expanded Pet Insurance Offering

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New comprehensive pet insurance offering provides coverage to cats and dogs regardless of age and breed.

Toronto, ON (PRWEB) September 16, 2013

Kanetix announces a new partnership with Western Financial Insurance Company which provides Canadians with more pet insurance rate and policy options to compare using its online quote comparison service.

This newly formed partnership provides Canadians with access to compare rates and policies from a variety of providers in one place, quickly and easily.

Pet insurance offers pet owners financial peace of mind in the event their cat or dog suffers from an unexpected illness or accident. Many of the quote comparisons for pet insurance policies include, but not limited to the following:·     Coverage for dental care
·     Veterinary bills from accidents
·     Insurance for any medical conditions arising from an accident
·     Coverage for all cats and dogs regardless of their breed or age
·     Provide 80 per cent of coverage for medical visits
·     Homeopathic therapy and other alternative treatments
·     Doctor prescriptions

Consumers can compare rates and purchase pet insurance policies through KANETIX. Both annual and monthly payment plans are available. With medical treatments for dogs and/or cats ranging anywhere from hundreds to thousands of dollars in just one visit, pet insurance protects owners from unmanageably bills and unthinkable decisions.

The cost for a pet insurance policy ranges in price, as a number of factors contribute to the overall cost. A few factors include: breed, age, type of coverage and the policy deductible. Consumers looking for the best pet insurance policy for their cat or dog should go to http://www.kanetix.ca/pet-insurance to compare policies and quotes.

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About Western Financial pet health insurance:

As the first and only licensed insurance company in Canada to focus solely on pet health insurance, Western Financial Insurance Company is dedicated to responsible pet ownership.

Our mission is to help Canadian pets live longer and healthier lives by enabling their owners to provide the best in pet health care; to help pet owners and veterinarians truly fulfill the promise of care.

For more information, please contact:

Erin Baxter
Marketing and Communications Specialist
Western Financial Insurance Company
T: (204) 942-2999 ext. 7631
F: (204) 943-8187
http://www.westernfic.com

About Kanetix®

Launched in October 1999, Kanetix was Canada's first online insurance marketplace and today provides over a million quotes per year to consumers looking for insurance, as well as comparisons for mortgage rates and credit cards.

The Kanetix comparison service is a one-stop shopping environment for consumers. Each day, thousands visit the Kanetix website at http://www.kanetix.ca to comparison shop their various financial needs. Shoppers choose what they want to compare, obtain a quotation and complete an online application or, with the help of Kanetix connect with the provider to purchase or apply for the product over the phone.

Through its Software as a Service team, Kanetix is also the leading provider of online insurance quotation technology, developing online quotation systems, mobile solutions, actuarial tools and websites for many of Canada's largest insurance brands.

For more information, visit Kanetix.ca or contact:

Natasha Carr
416.599.9779 ext. 343
publicrelations(at)kanetix(dot)ca
Kanetix Ltd Reported by PRWeb 1 hour ago.

First Impressions of the 2012 Poverty, Income, and Health Insurance Data

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[The following are some initial impressions from the income, poverty, and health insurance data released by the Census Bureau this morning. NOTE: these data refer to 2012, so yearly differences, unless otherwise noted, are between 2011 and 2012. Also, visit www.offthechartsblog.org for CBPP's updates and analyses.]The poverty rate held steady at 15 percent, the same rate as 2011; the real median household income was also unchanged, at about $51,000.Thus, the good news from today's 2012 income and poverty results is that for the first year since the great recession hit, things aren't getting worse. The bad news is that three years into an economic recovery, they're not getting better either. Yes, the economy has expanded over these past few years, but to use a seasonal analogy, today's report is yet another piece of evidence that this growth has once again done an end run around middle and lower income households on its way to the top of the scale.*Inequality and Its Impact on Poverty and Income*: GDP grew almost 3 percent last year, yet today's report shows that the economic recovery has yet to lift the living standards of middle and low income families. Certainly, arresting the drop in middle-incomes and the rise in poverty that had been the pattern since the downturn took hold in 2008 is a plus and the first step to reversing those unfavorable trends.But the lack of income gains in the middle and bottom of the scale amidst an economic expansion that's three years old is an important and notable finding from the report. Surely, many American households can reasonably ask, "what recovery?"Of course, the growth that's occurred since the expansion began in 2009 had to go somewhere, and other datasources clearly reveal that destination: the top of income scale. Including gains from the sale of capital assets, a main source of income for the wealthy and a prime driver of inequality, the top 10 percent of households now holds over half of the nation's income, their highest share on record dating back to the early 1900s.Though the Census income data do not capture the effects of capital income, they too show that inequality is tied with 2011 for an all-time high in their data series. The share of income held by the top 5 percent -- 22.3 percent -- is the same as 2011, and the highest on record going back to the mid-1960s when this series begins. Note that this share is up one percentage point from 2007 -- the last cyclical peak (in 2001 the share was 22.4 percent but this is statistically indistinguishable from last year's high).Note also that these gains in income share at the top have come at the expense of the bottom 80 percent, all of whom have lost ground by this measure.Simply put, inequality is working like a wedge in our economy, diverting growth from middle and lower-income families such that the growth that has occurred has been insufficient to improve their conditions.*Some positive findings from today' report:*-- As noted, the fact that middle-income were flat in real terms and poverty did not go up is a positive development relative to the past five years. Still, "things aren't getting worse" is not a huge selling point, particularly given the outsized gains at the top of the income and wealth scales.-- One positive finding from today's report is how effective safety net programs have been in offsetting some of the economic damage to lower income households. Though the value of SNAP (formerly Food Stamps) is not counted in the official poverty rate--a notable shortcoming of that measure--the Census reported that the market value of SNAP benefits lifted 4 million people, including 1.7 million children above the poverty line last year.-- Unemployment Insurance (which is counted in the official rate) lifted 1.7 million people out of poverty (though that's down from 2011-2.3 million-and 2010-3.2 million).-- The Earned Income Tax Credit, a valuable, pro-work wage subsidy to low-income working families (also not counted in the official rate) lifted 5.5 million out of poverty, including 2.9 million children of working parents.-- Health coverage continues to expand for some groups, particularly children. The share of total uninsured fell last year from 15.7 percent in 2011 to 15.4 percent in 2012. For kids, the uninsured share went down from 9.4 to 8.9 percent, an historic low.The SNAP finding is especially noteworthy given current efforts in the House to severely cut the program. Today's data show that were such deep cuts in place last year, millions of economically vulnerable families would have suffered deeper poverty.This post originally appeared at Jared Bernstein's On The Economy blog. Reported by Huffington Post 2 days ago.

Walgreen Moves 120,000 Employees To Health Insurance Exchange

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By Beth Pinsker
NEW YORK, Sept 18 (Reuters) - Walgreen Co is moving 120,000 employees to a private health insurance exchange from coverage provided directly from carriers, the company will announce Wednesday.
The pharmacy chain will join 17 other large employers on the Aon Hewitt Corporate Health Exchange as part of a growing movement to offer employees fixed dollar amounts to purchase their own plans on such exchanges.
The end-cost to employees depends on the plan chosen, but they typically get more options than under traditional arrangements. Private exchanges mimic the coverage mandated as part of the Affordable Care Act. Enrollment in the public exchanges starts Oct. 1.
"What happens to employer contributions over time? Will they put in as much as they put in the past? These are unanswered questions but potential negatives," says Paul Fronstin, a senior research associate with the Employee Benefit Research Institute. The benefit to Walgreen and other employers is unknown at this point, as their cost-savings are not clear.
Of the 180,000 Walgreen employees eligible for healthcare insurance, 120,000 opted for coverage for themselves and 40,000 family members. Another 60,000 employees, many of them working part-time, were not eligible for health insurance.
Aon Hewitt says other participants in its program include retailer Sears Holding Corp and Darden Restaurants Inc . These new additions raise enrollment to 330,000 from 100,000 last year, and Aon Hewitt estimates enrollment will jump to 600,000 next year, a fivefold increase from 2012.
By 2017, nearly 20 percent of employees nationwide could get their health insurance through a private exchange, according to Accenture Research. A recent report by the National Business Group on Health said that 30 percent of large employers are considering moving active employees to exchanges by 2015.
Other major providers of private exchanges include Mercer, a division of Marsh & McLennan Companies Inc, and Towers Watson & Co. Mercer said this summer that it had five major employers enrolled but did not name them. Towers Watson is in the process of launching an exchange. Smaller companies, like Buck Consultants, Willis North America Inc and regional players, are also starting exchanges.
There are also separate exchanges just for retirees. IBM , Time Warner Inc and General Electric Co recently announced they were moving retirees to exchanges for those not yet Medicare-eligible and other exchanges for those who are.

CHANGES IN COVERAGE
The five plan choices in Aon Hewitt's private exchange carry names used across the sector - bronze, bronze plus, silver, gold and platinum - and costs are based on the amount of coverage, says Ken Sperling, Aon Hewitt's national health exchange strategy leader.
Bronze and silver plans typically have high individual deductibles - $1,250 or more - meaning that they do not kick in until a participant's out-of-pockets costs exceed the amount of the deductible. Gold and platinum plans have lower deductibles and offer more coverage.
Healthcare premiums for these plans rose about 5 percent last year, consistent with the industry average recently calculated by the National Business Group on Health.
For some employees the exchanges could offer more choice. Walgreen's employees eligible for healthcare coverage were asked in the past three years to choose between two plans, both with high deductibles. Those plans were managed by Blue Cross Blue Shield or United Healthcare, depending on the area of the country.
Walgreen's offering last year matched the silver plan on Aon's exchange, so there are two options that are less expensive and two that are more expensive.
Based on Aon Hewitt's data collected so far, about 42 percent of participants choose a plan less expensive than they had previously used, while 26 percent choose a higher-cost plan and 32 percent stay at the same level.
Tom Sondergeld, senior director of health and well being for Walgreen, said Walgreen joined a private health exchange to offer its employees more choice, while still supporting a generous pharmacy benefit he said was central to the company's mission.
Walgreen is not planning any other major benefit changes for 2014, which starts in late October, Sondergeld said. The company will continue its reward-based wellness programs and a smoking surcharge of roughly $600. It will not change coverage for spouses, as UPS recently announced. (Follow us @ReutersMoney or at http://www.reuters.com/finance/personal-finance. Editing by Lauren Young and Prudence Crowther) Reported by Huffington Post 1 day ago.

Walgreen moves to new health insurance model

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Walgreen Co. plans to announce Wednesday it will move more than 180,000 of its workers and their families to a new health insurance model that caps the amount they’ll pay each year for workers’ coverage, while at the same time offering employees a broader menu of insurance choices. Reported by ChicagoTribune 1 day ago.
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